Harel Insurance Investments & Financial Services Ltd. Grows Position in Lyft, Inc. (NASDAQ:LYFT)

Harel Insurance Investments & Financial Services Ltd. grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 10,225.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 424,384 shares of the ride-sharing company’s stock after acquiring an additional 420,274 shares during the quarter. Harel Insurance Investments & Financial Services Ltd. owned about 0.10% of Lyft worth $5,475,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Nordea Investment Management AB lifted its stake in shares of Lyft by 59.6% during the fourth quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock worth $5,006,000 after purchasing an additional 142,880 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Lyft in the 2nd quarter worth approximately $388,000. New York State Teachers Retirement System acquired a new stake in Lyft in the third quarter valued at approximately $423,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Lyft during the second quarter valued at approximately $3,349,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of Lyft during the third quarter worth $716,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LYFT shares. BMO Capital Markets increased their target price on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and set a $23.00 price objective (up previously from $17.00) on shares of Lyft in a research note on Thursday, November 7th. Loop Capital increased their price target on Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen increased their target price on Lyft from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price target on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Twenty-seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.84.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 4,242 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the sale, the insider now owns 755,847 shares of the company’s stock, valued at $13,423,842.72. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,242 shares of company stock worth $427,330. Corporate insiders own 3.07% of the company’s stock.

Lyft Stock Up 1.5 %

Lyft stock opened at $13.80 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average of $14.84 and a two-hundred day moving average of $13.41. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. As a group, research analysts expect that Lyft, Inc. will post 0.06 EPS for the current fiscal year.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.